Tag: NBS

The National Average Cost of a Healthy Diet (CoHD) per adult a day stood at N938 in February, 2024, the National Bureau of Statistics (NBS) said in a report.

The NBS revealed this in its CoHD report for February, 2024 released on Friday in Abuja.

The bureau said the CoHD was the least expensive combination of locally available items that met globally consistent food-based dietary guidelines.

It said it was used as a measure of physical and economic access to healthy diets.

“This is a lower bound (or floor) of the cost per adult per day excluding the cost of transportation and meal preparation.”

The bureau said that to compute the CoHD indicator, the following data on Retail Food Prices, Food Composition Data, and Healthy Diet Standard were required.

The NBS also said that in February, the average CoHD was highest in the South-West at N1, 157 per adult per day, followed by the South- East at N1, 077 per day.

It said the lowest average CoHD was recorded in the North-West at N723 per adult per day.

The NBS further said that at the state level, Ekiti, Lagos, and Osun recorded the highest CoHD at N1, 295, N1, 195, and N1, 184, respectively.

The bureau said Katsina recorded the lowest CoHD at N673, followed by Sokoto and Zamfara at N714 and N720, respectively.

The report added that animal-source foods were the most expensive food group recommendation to meet in February, accounting for 38 per cent of the total CoHD to provide 13 per cent of the total calories.

It noted that fruits and vegetables were the most expensive food groups in terms of price per calorie.

“They accounted for 12 per cent and 14 per cent, respectively, of the total CoHD while providing only seven per cent and five per cent of total calories in the Healthy Diet Basket.

“Legumes, nuts and seeds were the least-expensive food group on average, at six per cent of the total cost.’’

The report also says that in recent months, the CoHD had risen faster than general inflation and food inflation.

“However, the CoHD and the food Consumer Price Index (CPI) are not directly comparable.

Read Also: Nigeria’s public debt stock increases to N97.34trn in Q4 2023 – NBS

“The CoHD includes fewer items and is measured in Naira per day, while the food CPI is a weighted index.

“The food CPI increased approximately by four per cent between January and February, while CoHD increased by nine per cent.’’

The NBS said the policy implications of these results would foster collaboration among a wide range of stakeholders, such as policymakers, researchers and civil society actors that focus on food security.

“These stakeholders will devise strategies that tackle access, availability, and affordability of healthy diet effectively.

“Also future research incorporating income can also be used to determine the proportion and number of the population that are unable to afford a healthy diet,” the report said. (NAN)

Nigeria’s public debt stock increased from N87.91 trillion (114.35 billion dollars ) in the third quarter of 2023 to N97.34 trillion (108.23 billion dollars ) in the fourth quarter of 2023.

The National Bureau of Statistics (NBS) said this on Tuesday in its Nigerian Domestic and Foreign Debt Report for Q4 2023 released in Abuja.

The report said Nigeria’s public debt stock, which included external and domestic debt, grew by 10.73 per cent on a quarter on quarter basis.

It said that External debt stood at N38.22 trillion (42.50 billion dollars) in Q4 2023, while domestic debt was N59.12 trillion (65.73 billion dollars).

Read Also: Average price of 5kg cooking gas stood at N6,154.50 in February – NBS

“However, the share of external debt to total public debt stood at 39.26 per cent in Q4 2023, while domestic debt was recorded at 60.74 per cent.’’

In a breakdown by states, the bureau said that Lagos State recorded the highest domestic debt of N1.05 trillion in Q4 2023, followed by Delta with N373.41 billion.

The report showed Jigawa recorded the lowest domestic debt at N42.76 billion, followed by Kebbi at N60.69 billion.

In addition, it stated that Lagos state recorded the highest external debt with 1.24 billion dollars , followed by Kaduna state with 587.07 million dollars.

“Borno recorded the lowest external debt with 20.49 million dollars , followed by Yobe with 21.49 million dollars,” the NBS stated.

(NAN)

• FG records N1.20tr VAT collection in Q4 2024; CIT hits N1.13tr

The National Bureau of Statistics (NBS) yesterday revealed that owing to cost of food, electricity, gas, and fuel, inflation rate soared from the 29.90% in January 2024 to 31.70% in February 2024.

This was contained in its document titled “CPI and Inflation Report (February 2024).”

The report noted that  “In  February 2024, the headline inflation rate increased to 31.70% relative to the January 2024 headline inflation rate which was 29.90%.”

While & non-alcoholic beverage contributed 1.61%, housing, water, electricity, gas & other fuel accounted for 0.52% and clothing and footwear 0.24% to inflation in the period under review.

The NBS said looking at the movement, the February 2024 headline inflation rate showed an increase of 1.80% points when compared to the January 2024 headline inflation rate.

On a year-on-year basis, according to NBS, the headline inflation rate was 9.79% points higher compared to the rate recorded in February 2023, which was 21.91%.

The bureau explained that this shows that the headline inflation rate (year-on-year basis) increased in the month of February 2024 when compared to the same month in the preceding year (i.e., February 2023).

The NBS added that  on a month-on-month basis, the headline inflation rate in February 2024 was 3.12%, which was 0.48% higher than the rate recorded in January 2024 (2.64%).

The report said this  means that in February 2024, the rate of increase in the average price level is more than the rate of increase in the average price level in January 2024.

According to NBS, food inflation rate in February 2024 was 37.92% on year -on-year basis, which was 13.57% point higher compared to the rate recorded in February 2023 (24.35%).

The report said the rise in the food inflation on month-on-month basis was caused by rise in the rate of increase in the average prices of bread and cereals, potatoes, yam and other tuber, fish, coffee, tea, and cocoa.

The NBS said in February 2024, all items inflation rate on a Year-on-Year basis was highest in Kogi (37.98%), Oyo (36.60%), Bauchi (35.62%), while Borno (26.28%), Taraba (26.72%) and Benue (27.40%) recorded the slowest rise in Headline inflation on Year-on-Year basis.

The report noted that on a Month-on-Month basis, however, February 2024 recorded the highest increases in Kwara (6.42%), Kebbi (4.64%), Adamawa (4.46%), while Katsina (1.93%), Cross River (1.98%) and Benue (2.33%) recorded the slowest rise on Month-on-Month inflation.

Continuing, the data revealed that “In February 2024, Food inflation on a Year-on-Year basis was highest in Kogi (46.32%), Rivers (44.34%), and Kwara (43.05%), while Bauchi (31.46%), Plateau (32.56%), and Taraba

(33.23%) recorded the slowest rise in “Food inflation on Year-on-Year basis. On a Month-on-Month basis, however, February 2024 Food inflation was highest in Adamawa (5.61%), Yobe (5.60%), and Borno (5.60%), while Cross River (2.08%), Niger (2.56%), and Abuja (2.60%) recorded the slowest rise in Food inflation on Month-on-Month basis.”

Meanwhile, the NBS  also  revealed that Value Added Tax (VAT) collections increased by 26.61% from N948.07 billion in third quarter 2023 (Q3 2023) to N1.20 trillion in Q4 2023.

According to its document tagged: “Value Added Tax (Q4 2023,” “On the aggregate, Value Added Tax (VAT) for Q4 2023 was reported at N1.20 trillion, showing a growth rate of 26.61% on a quarter-on-quarter basis from N948.07 billion in Q3 2023.”

The report noted that local payments recorded were N630.00 billion, Foreign VAT Payments were N326.27 billion, while import VAT contributed N244.04 billion in Q4 2023.

On a quarter-on-quarter basis, according to the Bureau, agriculture, mining and quarrying recorded the highest growth rate with 63.75%, followed by the other services activities with 61.98%.

The NBS said on the other hand, activities of extraterritorial organisations and bodies activities had the lowest growth rate with –19.44%, followed by financial and insurance with –8.46% .

The report further noted that in terms of sectoral contributions, the top three largest shares in Q4 2023 were manufacturing with 13.24%, information and communication with 10.02% and mining and quarrying with 7.91%.

The NBS said nevertheless, undifferentiated goods- and services-producing activities of households for own use recorded the least share with 0.00%, followed by activities of extraterritorial organizations and bodies, and water supply, sewerage, waste management and remediation activities with 0.03% and real estate activities 0.07%, agriculture, forestry and fishing with 0.10%.

The report, however, revealed that on a year-on-year basis, VAT collections in Q4 2023 increased by 72.12% from Q4 2022.

Similarly, the NBS said in another report titled: “Company Income Tax Q3 2023,” that on the aggregate, Company Income Tax (CIT) for Q4 2023 was reported at N1.13 trillion, indicating a growth rate of –35.40% on a quarter-on-quarter basis from N1.75 trillion in Q3 2023.

The Bureau  noted that local payments received were N533.93 billion, while Foreign CIT Payment contributed N596.10 billion in Q4 2023.

Read Also: Inflation hits 31.70% in February, says NBS

According to the NBS, on a quarter-on-quarter basis electricity, gas, steam and air conditioning supply recorded the highest growth rate with 79.65%, followed by construction with 57.86%.

The report said on the other hand, activities of Information and communication –69.44, and Public administration and defence, compulsory social security –23.75 had the lowest growth rate.

In terms of sectoral contributions, the top three largest shares in Q4 2024 were Manufacturing 12.84%, Financial and insurance activities 6.25%, and Mining and quarrying 5.90%.”

• …as CIT hits N1.13tr

The National Bureau of Statistics (NBS) on Friday, March 15, said Value Added Tax (VAT) collections increased by 26.61% from N948.07 billion in third quarter 2023 (Q3 2023) to N1.20 trillion in Q4 2023.

According to its document tagged: “Value Added Tax (Q4 2023,” “On the aggregate, Value Added Tax (VAT) for Q4 2023 was reported at N1.20 trillion, showing a growth rate of 26.61% on a quarter-on-quarter basis from N948.07 billion in Q3 2023.”

The report noted that local payments recorded were N630.00 billion, Foreign VAT Payments were N326.27 billion, while import VAT contributed N244.04 billion in Q4 2023. 

On a quarter-on-quarter basis, according to the Bureau, agriculture, mining and quarrying recorded the highest growth rate with 63.75%, followed by the other services activities with 61.98%. 

NBS said on the other hand, activities of extraterritorial organisations and bodies activities had the lowest growth rate with –19.44%, followed by financial and insurance with –8.46% .

The report further noted that in terms of sectoral contributions, the top three largest shares in Q4 2023 were manufacturing with 13.24%, information and communication with 10.02% and mining and quarrying with 7.91%. 

NBS said nevertheless, undifferentiated goods- and services-producing activities of households for own use recorded the least share with 0.00%, followed by activities of extraterritorial organizations and bodies, and water supply, sewerage, waste management and remediation activities with 0.03% and real estate activities 0.07%, agriculture, forestry and fishing with 0.10%.

The report however, revealed that on a year-on-year basis, VAT collections in Q4 2023 increased by 72.12% from Q4 2022.

Similarly, the NBS said in another report titled: “Company Income Tax Q3 2023,” that on the aggregate, Company Income Tax (CIT) for Q4 2023 was reported at N1.13 trillion, indicating a growth rate of –35.40% on a quarter-on-quarter basis from N1.75 trillion in Q3 2023.

Read Also: NBS: Nigeria’s crude oil export up 20.8%, hits N10.31 trillion in three months

The Bureau  noted that local payments received were N533.93 billion, while Foreign CIT Payment contributed N596.10 billion in Q4 2023.

According to NBS, on a quarter-on-quarter basis electricity, gas, steam and air conditioning supply recorded the highest growth rate with 79.65%, followed by construction with 57.86%.

The report said on the other hand, activities of Information and communication –69.44, and Public administration and defence, compulsory social security –23.75 had the lowest growth rate.

In terms of sectoral contributions, the top three largest shares in Q4 2024 were Manufacturing 12.84%, Financial and insurance activities 6.25%, and Mining and quarrying 5.90%. 

Continuing, the document said: “Nevertheless, Activities of households as employers, undifferentiated goods- and services producing activities of households for own use 0.00%, Water supply, sewerage, waste management and remediation activities 0.02%, and Activities of extraterritorial organizations and bodies 0.07%.”

In the three months from October to December 2023, Nigeria exported crude oil valued at N10.31 trillion, which constitutes a bulk of the nation’s overall exports of products

Foreign trade data released by the National Bureau of Statistics (NBS) for the fourth quarter (Q4) of 2023 showed that the value of crude oil taken out of the country in the three months under review grew by 20.80 percent, accounting for a substantial portion of 81 percent of the total exports during the period.

Comparatively, Nigeria exported N8.53 trillion worth of crude oil in the third quarter of last year, compared to N4.91 trillion in the second quarter. This represents a 109.91 percent rise in value.

Owing to shrinking investment, vandalism, and widespread theft in the Niger Delta, Nigeria’s overall crude oil production had been slowly declining for years.

With a decline in crude production to nearly 900,000 barrels per day in the third quarter of 2022, the federal government decided to step up and enlist local security organisations in the pipeline’s monitoring programme.

A growth in upstream activities in the oil and gas sector is further illustrated by the notable increase in Nigeria’s oil rig count, which has recently reached around thirty.

Following months of consistent expansion, Nigeria’s crude oil production, excluding condensates, rose above 1.42 million barrels per day in January for the first time in years.

Moreover, it appears the nation will have either met or surpassed its 1.5 million barrels per day renegotiated quota with the Organisation of Petroleum Exporting Countries (OPEC) in Q3, 2023 when the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) releases the production data for February.

Read Also: NBS: 5kg cooking gas price hit N5,139.25

The report stated: “The value of crude oil exports in Q4, 2023 stood at N10,310.70 billion indicating an increase of 20.80 percent compared to the value recorded in Q3, 2023 (N8,535.61 billion) and increased by 109.91 percent when compared to the same period in 2022 (N4,911.92 billion).

“The value of other oil products exports in Q4, 2023 was N1,287.65 billion; this showed an increase of 13.61 percent and by 79.98 percent when compared to the value recorded in Q3, 2023 (N1,133.42 billion) and the value in the fourth quarter of 2022 (N715.45 billion) respectively,” the NBS report indicated.

Despite a 6.43 percent gain from the previous quarter, Nigeria’s performance in the solid minerals sector fell below expectations during the period under review, earning just N58.92 billion.

“The value of solid minerals imports in the fourth quarter of 2023 stood at N58.92 billion. This value was 6.43 percent higher than the value recorded in Q3, 2023 (N55.36 billion) and 72.68 percent higher than the value recorded in Q4, 2022 (N34.12 billion).”

The largest exported product in the fourth quarter of 2023 was petroleum oils and oils obtained from bituminous minerals, crude was valued at N10,310.70 billion, representing 81.23 percent.

“This was followed by natural gas, with N1,015.84 billion accounting for 8.00 percent, and urea, whether or not in aqueous solution, with N251.90 billion or 1.98 percent of total exports,” the report added.

However, Nigeria’s total trade during the fourth quarter of 2023 was N26,801.95 billion. The value of imports was N14,108.33 billion, while the value of exports was N12,693.62 billion.

The overall value of trade was N71,880.01 billion each year, of which N35,917.62 billion was recorded as imports and N35,962.39 billion as exports.

When compared to the total exports recorded in the third quarter of 2023, which came to N10,346.60 billion, and to the corresponding quarter in 2022, which came to N6,359.61 billion, the total exports in the reviewed quarter grew by 22.68 percent and 99.60 percent, respectively.

In the fourth quarter of 2023 (Q4 2023), the total number of people who died in road crashes was 1,323, comprising 1,104 males (83.45%) and 219 (16.55%).

This was contained in the National Bureau of Statistics (NBS) Monday, February 26, report titled “Road Transport Data Q4 2023.”

The report said: “A total of 1,104 males were killed in Q4 2023, accounting for 83.45% of 1,323 persons killed, compared to 219 (16.55%) females killed.”

NBS also said a total of 6,929 males were injured during the period, indicating 76.01% of 9,116 injured persons compared to 2,187 (23.99%) females injured.

The opening part of the report noted that the total number of road traffic crashes in Q4 2023 was 2,717, indicating an increase of 24.23% from the previous quarter (Q3) which recorded 2,187 and a 33.12% decrease from 3,617 in Q4 2022.

According to data, of all crashes, serious cases stood at the top in Q4 2023 with 1,772 compared to fatal and minor cases with 687 and 258 respectively.

Read Also: Petrol price stood at N668.30 in January – NBS

NBS added that the three categories of cases recorded an increase, fatal increased by 29.13%, serious increased by 24.87% and minor cases increased by 9.32% in the quarter under review relative to the preceding quarter.

The document also noted that a total of 4,195 vehicles were involved in road traffic crashes in Q4 2023, higher compared to the previous quarter which recorded 3,371, indicating an increase of 24.44%.

It added that the “North-Central recorded the highest number of crashes in Q4 2023 with 905, followed by the South-West with 650, while the South-South had the least with 141.

“Similarly, the North-Central recorded the highest number of casualties with 3,152, followed by the North-West with 2,550, while the South-South recorded the least with 412.”

The National Bureau of Statistics (NBS) on Monday said active telecom voice subscribers increased by 0.96% from 222,571,568 in fourth quarter (Q4 2022) to 

224,713,710 in Q4 2023.

NBS, however, noted that on quarter-on-quarter basis, the subscribers rose by 1.33%.

This was contained in its data tagged: “Telecoms Data: Active Voice and Internet per State, Porting and Tariff Information (Q4 2023).”

The document said: “The total number of active voice subscribers was 224,713,710 in Q4 2023 from 222,571,568 recorded in the corresponding quarter of 2022, indicating a growth rate of 0.96%. On a quarter-on-quarter basis, this rose by 1.32%.”

 According to the report, also, in Q4 2023, the total number of active internet subscribers stood at 163,838,439 from 154,847,901 reported in Q4 2022, showing an increase of 5.81%.

It added that on a quarter-on-quarter basis, this grew by 2.29%.

On state profile analysis, NBS said Lagos had the highest number of active voice subscribers in Q4 2023 with 26, 739,346, followed by Ogun with 13,070,779 and Kano with 12,325,633. 

Read Also: Petrol price stood at N668.30 in January – NBS

On the other hand, Bayelsa still recorded the least with 1,557,786, followed by Zamfara and Gombe with 2,772,424 and 2,785,030 respectively. 

 The document said similarly, Lagos state had the highest number of active internet subscribers in Q4 2023 with 18,927,446, followed by Ogun with 9,570,463 and Kano with 9,031,581.

The bureau noted Bayelsa recorded the least active internet subscriber with 1,193,525, followed by Zamfara and Gombe with 1,959,252 and 2,100,073 respectively.

NBS said, however, MTN maintains its status as the telecommunication service providers with highest share of subscriptions in Q4 2023.